Banks are depending more heavily on the market for certificates of deposit (CDs), whose worth climbed to a record Rs 5.75 trillion in the fortnight to January 15, owing to deposit tightness in the system.
The Clearing Corporation of India (CCIL) will be able to reapply for recognition by the European Union's (EU) financial markets regulator following a pact signed on Tuesday between the Reserve Bank of India (RBI) and the European Securities and Markets Authority (Esma).
'There are no additional benefits for banks and market participants to use CBDC...'
Foreign investment in bonds issued by Indian corporates touched a 10-year high in May at 20,996 crore, driven by $3.35 billion fundraise by the Shapoorji Pallonji (SP) group, which saw infusion from Deutsche Bank, BlackRock, Morgan Stanley, Davidson Kempner, and Cerberus Capital, among others. The SP group sold three-year bonds, offering 19.75 per cent yield compounded annually and payable at maturity.
Banks have issued Rs 7.78 trillion worth of CDs in the current calendar year until August 2024, compared to Rs 4.9 trillion in the same period of 2023, registering a 59 per cent growth
The country's total debt, or the total outstanding bonds which are being traded in the market, rose to $2.47 trillion (Rs 205 lakh crore) in the September quarter, according to a report. The total debt amount in the March quarter of the previous fiscal was $2.34 trillion (Rs 200 lakh crore). The central government's debt stood at $1.34 trillion, or Rs 161.1 lakh crore, in the September quarter, up from $1.06 trillion, or Rs 150.4 lakh crore, in the March quarter, Vishal Goenka, co-founder of Indiabonds.com, said, quoting data provided by the Reserve bank of India.
Funds raised by banks through certificates of deposit in December clocked the highest in the financial year 2023-24 as liquidity remained tight in the system with the Reserve Bank of India (RBI) infusing Rs 2.01 trillion on Monday, the highest in the current financial year. The liquidity deficit in the banking system widened to more than Rs 2 trillion on Monday on the back of advance tax outflows, market participants said. Around Rs 4 trillion worth of outflows are expected because of advanced tax and goods and services tax (GST) payments in December.
'Liquid ETFs help in cash management by enabling a smooth transition between equity and cash within the same settlement cycle, as they trade in the same segment as equity.'
India's inclusion in JP Morgan's bond index can channel billions of dollars into India. How will the government securities market handle it?
The pilot project for central bank digital currency (CBDC) in the retail segment went live on Thursday with the Reserve Bank of India (RBI) issuing Rs 1.71 crore to four participating banks based on their indents. The central bank has identified four banks for the first phase of the pilot - State Bank of India, ICICI Bank, Yes Bank and IDFC First Bank - in four cities, Mumbai, New Delhi, Bengaluru and Bhubaneswar. The highest indent was received from one private sector bank.
The first tranche of sovereign gold bond for 2022-23 will open for subscription for five days from June 20, the Reserve Bank of India said on Thursday.
Leveraging global capital markets to give muscle to an innate competitive advantage in rapid mass transaction systems will lead to India becoming a petri dish for global enterprises and new-age innovation that it yearns to be.
MPFI is a joint initiative by Rural Technology and Business Incubator of IIT-Madras and Institute for Development and Research in Banking Technology.
After the rationalisation and categorisation of mutual fund schemes undertaken by the Sebi in October 2017, overnight funds have emerged as a distinct category.
'One way of doing this could be offering credit guarantee to the banks, say 10 per cent, for fresh loans given to micro, small and medium enterprises,' observes Tamal Bandyopadhyay.
Gagan Rai, currently executive director of NSDL, has been promoted as CEO and MD of the depository.
According to the National Securities Depositories data, the outstanding debt comprising government corporations' bonds and bank bonds, is worth Rs 3.70 lakh crore.
'If such inflows materialise, what will be the effect on the rupee's value -- and therefore on exports growth, the only sustainable path to recovery?', asks Mihir S Sharma.
R H Patil was on Thursday appointed chairman of UTI Asset Management Company, the country's largest mutual fund.\n\n
The Reserve Bank of India has permitted sale of government securities already contracted for purchase with effect from April 2, subject to certain conditions.
Senior bankers are trying to impress upon the central bank that the shift to external benchmark-linked lending be postponed to April 1, 2020.
The focus shall also be on consolidation of public debt and reducing rollover risk through active switch/buyback operations.
With a sole mandate of inflation targeting, RBI wears many hats.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances